Multisoft Solutions CEO Calls for Legally Regulating Cryptos

Justice Lartey, an accountant and a dealer of business management software, has been urging the Bank of Ghana to have a legalized regulatory structure to integrate the use of cryptos in Ghana.

Lartey, who is currently the CEO of Multisoft Solutions, a software agency, believes that legalizing digital currencies would improve the integration of the country within the global economy through efficient use of modern technologies.

He further noted that the bank’s stand toward cryptos is not great, especially since cryptos have already been quickly growing worldwide.

A cryptocurrency is a type of digital currency that works as a means for exchange while limiting chances of fraud. Lartey spoke about his view during a seminar on a software launched by his company in Accra called SAP One Business. He stated that when cryptos are legitimized the central bank will in effect manage the digital funds belonging to the residents of Ghana.

He continued to say that considering the direction in which the country is going, the BoG will not be able to achieve a monopoly over the financial sector during the next ten to fifteen years because people will no longer use physical currencies, but digital ones instead, which are going to be traded around the world.

Crypto Awareness Campaigns

When talking about crucial elements related to cryptocurrencies, Lartey supported the idea of creating awareness about how important cryptos are and their trends on an international scale. He stated that failure to create such awareness might cause a loss of jobs. He emphasized that business professionals and advisors should focus on increasing the knowledge base of local agencies about the uses of cryptocurrencies and encourage them to get involved in the process of integration.

The Role of the Bank of Ghana

The CEO again emphasized that the BoG should consider long-term plans if it wants to continue its status as a well-functioning financial organization in Ghana. He advised further that the central bank should accept how things are changing and be prepared in advance before digital currencies take over as the main form of payment transactions in the country. While the cedi is a currency that is used only in Ghana, cryptos are used on a global scale and that’s why locals are choosing to trade in them.

Technological Change

Walid Belahmer, a Business Development Specialist at MultiSoft Solutions, urged business owners to consider a digital outlook for their companies. He stated that business CEOs must use applications like SAP One Business to make sure errors are reduced, productivity is increased, and the business is cost-effective.